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India Real Estate
|India Real Estate is the second largest industry next only to agriculture in terms of the contribution it makes to the gross domestic product (GDP) and the employment generation. Moreover, its share of contribution to the country's GDP is expected to increase only in the years to come. To be more precise, the next five years will see a rise of six percent from its present share of five percent contributed towards the GDP.
According to a report, India is one among the four countries (the other three being Brazil, Russia and China) that are likely to achieve a much faster growth rate in the domain of property development and housing construction activities as compared to the UK and US real estate markets. The BRIC report, as it is called, has also projected a higher real estate investment over a period of the next five years. The forecast for the year 2010 has put a significant portion of the Foreign Direct Investment (FDI) towards investment in the Indian real estate market.
Real Estate Market 2010
As the industry comprising the IT and ITES sectors grows, the demand for commercial properties will rise, not to mention the ever-increasing demand for residential houses that has always kept the housing development market in motion across the nation. The year 2010 is all set to witness a significant rise in commercial real estate fulfilling increased demands for office space and retail industry. The bubble burst in the booming real estate market that India experienced before the start of the economic slowdown has corrected the wrongly-inflated prices of residential and commercial properties, thus increasing more opportunities for real estate sale, buy, lease and rental.
Though the demand for commercial real estate has increased vehemently over the years, the residential property market is what drives the builders and other professionals engaged in the industry for more in construction and service related activities. The Tenth Five Year Plan has put the gap in the demand and supply of housing units for the current year to over 22.4 million units, which is likely to become 90 million over the next 10 years. The housing construction industry is thus geared to meet the whopping demand that the country is going to face in this segment in future.
As the demand is more for affordable homes, the state-sponsored housing authorities have come to play a major role in fulfilling the housing requirements for lower- and middle-income groups.
A number of housing solutions in the forms of 2, 3 and 4 BHK flats, studio apartments, condos and townhomes are being created with active support from the private construction companies and real estate investors. The furor created among the masses on the mere announcement of a new housing project by a development authority is nothing but a reflection of how desperately people are looking for affordable housing options in the city they live. The current scenario has given an impetus to the ongoing residential construction boom by government housing authorities as well as private builders across the major locations of the country including all Tier-I and Tier-II cities.
Real Estate Investment Opportunities
The studies conducted by some of the well-known international market research agencies have placed India on top of the list of the fastest developing nations. As a result, it has emerged as a favorable country for safe parking of global funds and all sorts of investment by corporate giants and market players. A report by PricewaterhouseCoopers (PwC) provides an outlook on the real estate development trends in India for 2010 and the period beyond this year. The report is a result of the study conducted after a careful analysis of the opinions of industry experts which include real estate agents, brokers, lenders, property developers, builders, investors and consultants. The high prospects of capital gains associated with real estate investment in India, especially in its metro cities like Delhi, Mumbai, Chennai, Hyderabad and Bangalore are a big attraction for investors from the country as well as from abroad.
The real estate industry is getting further impetus from the activities of institutions like Real Estate Mutual Funds and Real Estate Investment Trusts, not to mention the numerous discussion platforms and news sites that have come alive online for some time now. A real estate forum offers you a platform to exchange views and discuss issues concerning different aspects of the industry. The real estate blog, on the other hand, is fast becoming a reliable source to obtain the most updated development in the sector as well as to post personal views and experiences.
Initiatives have also been taken to create a comprehensive real estate index in order to expedite the flow of investment and keep a greater control over the market indicators. Regular conferences and seminars coupled with the easy availability of real estate resources, such as price index, chart, property listing data, updated statistics, directory and many more are in place to supplement your quest for more information on Real Estate in India.
Real Estate Companies in India
The real estate companies offering services from building construction to infrastructure development to property buy, sale or rent have placed India on the world real estate map. Planned development, incorporation of advanced technologies and international living standards in construction design, new schemes of financing in collaboration with loan-providing banks and lenders, and innovative business models are what led them to achieve success at all fronts and to ensure availability of all kinds of housing solutions at reasonable prices and mortgage rates.
The current real estate scenario has increased the portfolio that most real estate companies in India hold and today they are found offering services that are as diverse as the industry itself. Some of the most common real estate jobs that they undertake include infrastructure development, housing construction, property listings, market research & analysis, investment generation for a new real estate project and providing solutions regarding laws, tax, stocks, buy, sale, rent, lease and home loans.
Real Estate Agents
Real Estate Agents are a major force behind the huge success of real estate industry in India. It is they who act as the indispensable channel between the owner of a property and a prospective buyer. With the expanding market size and growing industry, their profile have gone through a complete transformation and today they are found serving as investment consultants and providers of rental service and tax solutions also. Contact a local real estate agent first for your every requirement regarding real estate for sale, buy, rent or lease in any city you live in India, such as Bangalore, Mumbai, Pune, Delhi NCR, Kolkata, Chennai, Hyderabad, Gurgaon, Ahmedabad, Coimbatore and so on.
Real Estate Developers
Some of the leading real estate developers that have made a mark in India include corporate names, such as Sahara India, Aditya Birla, Tata, Godrej and Reliance Group, to name a few. Apart from that, there is a whole list of real estate developers that have given a new dimension to the housing and infrastructure development and placed India on the map of World real estate. Some of these builders and property developers include the names of DLF, Emaar MGF, Ansals, Raheja, Omaxe, Shipra, Arun Dev, Eros, JayPee, TDI, Prestige, Parsvnath, Vatika, Unitech, Vipul, Eldeco, Mapsko, Triveni and Kumar, to name just a few.
Moreover, every state and some of the major cities of the countries have housing or development authorities that build and provide affordable housing solutions to home seekers from lower- and middle- income group. The most sought after housing authorities and their latest residential projects in India include Delhi Development Authority (DDA), Maharashtra Housing & Area Development Authority (MHADA), Ghaziabad Development Authority (GDA), Haryana Urban Development Authority (HUDA) and Lucknow Development Authority (LDA), just to mention a few.